Saturday, February 11, 2012

Obama Rejects Keystone - Harper Goes To China

Canada's Harper talks oil with China as U.S. faces $4 gas

Washington Examiner -- Just as he promised he would do if the United States rejected the Keystone XL pipeline, Prime Minister Stephen Harper headed to Beijing earlier this week on a four-day trade mission in which he is expected to seek a deal to sell millions of barrels of Canadian oil to China. Since China is aggressively pursuing energy deals around the world to support its economic expansion, expect Harper to come home with an official signature on the dotted line.

Harper is accompanied on the mission by dozens of Canadian business executives, including several from Syncrude, the consortium that produces thousands of barrels of oil daily from the Athabasca oil sands. That's the place the Keystone XL pipeline -- proposed by TransCanada, another north-of-the-border energy giant -- would have funneled 700,000 barrels per day to the United States, if not for Obama's rejection. Some portion of the estimated 20,000 new jobs that would have been created here will also be exported to China.

The nationwide average price of regular gas was $3.37 per gallon last month, compared with $2.71 in January 2010 -- a 24 percent increase. And things are going to get tougher for gasoline buyers because prices traditionally rise in February and March as spring approaches. That's when refiners must switch over to more expensive federally mandated formulas that result in slightly lower emissions. According to USA Today, energy experts expect prices to be in the $4-per-gallon range this summer. Keep reading...

Blog author's comments - What is Prime Minister Harper supposed to do, wait for us to get our act together? Time is ticking but the Obama regime will not budge. Also, with the problems in the Middle-East a deal with Canada makes perfect sense... but, not to Obama.

U.S. - We need another year or two to think about it and spend more money on environmental impact studies before we reject it for political reasons.

China to Harper - The paperwork is already filled out and just awaits the final negotiating points and signatures; we should be able to knock it out in a couple of days.

The Obama administration believes there is no reason why we can't have both economic recovery and industry crushing regulations.

If we can dump the current resident of the White House in 2012 we should still be able to purchase oil from Canada. We should also be drilling for our own oil.

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